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20110701
20110731
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against, well, another reminder of the grim economic reality we're all facing. jon: those new weekly jobless claims just out today came out higher than expected, 418,000 americans filing for first-time unemployment benefits. wendall goler live at the white house right now, explain the president's offer for this short-term extension of the debt ceiling. >> reporter: well, you pretty much had it. the president won't agree to extend the time of the august 2nd deadline for lawmakers to reach a deficit-cutting agreement, but if they agree on a deal, he'll give them a few more days to turn it into legislation and put it on his desk. and the best hope, it appears, for a bipartisan compromise appears to be the so-called gang of six proposal which would trim the deficit about $3 be.7 trillion -- $3.7 trillion. it includes more than a trillion dollars in increased tax revenue, but the president, the white house and some republican members of the gang of six hope they can sell it to house republicans, the vast majority of whom have signed a new no new taxes pledge. >> i don't want to give polit
, hope you're off to a good thursday, i'm jenna lee. jon: and i'm jon scott, we're here in the fox newsroom, and "happening now," buying time on the debt crisis. the obama administration signaling it is open now to a short-term deal that would raise the debt ceiling. only, though, if congressional leaders can agree on a, quote, significant deficit reduction plan. the short-term deal would give congress time to pass a larger plan and avert possible government default august 2nd, but right now 12 days from that deadline, there is no deal on anything. jenna: ifs and maybes. in the meantime, fox news poll showing 60% of americans would vote against raising the debt limit. the showdown over the future of america's financial security come against, well, another reminder of the grim economic reality we're all facing. jon: those new weekly jobless claims just out today came out higher than expected, 418,000 americans filing for first-time unemployment benefits. wendall goler live at the white house right now, explain the president's offer for this short-term extension of the debt ceiling.
>> reporter: take care, everybody. jon: and good morning to you as we begin "happening now" on this monday, a very special welcome back to jenna lee. jenna: thank you very much. jon: anything big happened while you were gone? jenna: got married, went on a honeymoon. i'm back for good. jon: glad to have you. brand-new developments in the debt showdown as the clock ticks closure to government default. now the tea party is stepping in, pushing its cut, cap and balance plan. jenna: ccp, a measure that raises the limit on america's credit card by another $2.4 trillion, only after big and immediate spending cuts, as well as a constitutional amendment requiring a balanced federal budget. jon: it looks likely to pass in the house but the senate is a very different story. mike emanuel live at the white house for us now. what is the latest from the white house, first of all, mike? >> reporter: jon the white house perspective that this is a huge problem, our nation's debt, so this is the time to do something big and do something bold. it is not clear where the votes will be in terms o
're with us, i'm jenna lee. jon: and i'm jon scott. new developments in the drama that grips capitol hill and the white house. dueling plans are out now on raising the limit to our nation's credit card and reducing the deficit. wendall goler, our senior foreign affairs correspondent, is live on the north lawn. wendall? >> reporter: jon, starting today house republicans will begin trying to sell their proposal to cut the deficit and raise the debt ceiling to democrats, and if they don't, democrats in the senate will then try and sell their plan to republicans. the chairman of the president's national economic council says mr. obama's address to the nation last night was a warning that democrats and republicans aren't even close. >> what the president was trying to do was let people know that we really are at a stalemate, that we have, that nothing is coming out of congress that is likely to pass be both houses and that this is a time where we as a country have to come together and have compromise and have bipartisanship. >> reporter: saturday was the last time the president and can congres
you. jon: we still have debt deadlock on capitol hill with the default deadline just eight days away now. congressional leaders are still struggling to hammer out some kind of a deal, one that would raise the limit on our nation's credit card while cutting trillions of dollars in spending. house speaker john boehner may unveil his own bill today. harry reid said it would be a nonstarter. wendell goler is live on the north lawn with more. >> reporter: speaker boehner's plan would take the spending cuts agreed to before talks with vice joe biden broke down and raise the debt ceiling a little less than that. it would satisfy the speakers bottom line which is cutting spending more than the debt ceiling is raids but we'd have to go through this all over again by the end of the year. the speaker said yesterday it would solve the immediate crisis. >> there is going to be a two-stage process. it's not physically possible to do all of this in one step. having said that, chris, i know the president is worried about his next election, but my god shouldn't we be worried about the country? >> rep
Search Results 0 to 7 of about 8 (some duplicates have been removed)

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